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buying tips: There’s No Such Thing as The Perfect House - 07/24/11 06:00 AM
Some buyers aren’t satisfied unless a house meets their every requirement – and they often have a long list. It might be the right neighborhood, size, price, floor plan, yard, and pool, and they really love the kitchen, but they can’t sit in the LR and look out at the back yard, so it won’t work. Or it didn’t have a closet in the home office, so it’s off the list even though it meets their other needs. Their expectations are unrealistic. There are probably many houses that they could live in happily, but they demand perfection, down to the last … (125 comments)
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buying tips: Shoud you try to get 100% Financing on your Home Purchase? - 04/27/11 08:37 AM
In the days when housing was appreciating at a good clip, even with 100% financing, equity buildup happened in a short period of time and if you needed to sell, it was possible to make a profit even in a couple of years.
Currently, home values are still falling (at least in Tallahassee) and if you get a loan with 100% financing (VA, Rural development, Down Payment Assistance programs), you may find that soon your mortgage is underwater. If a personal crisis happens - job loss, medical bills, death of family member, etc. - you may be strapped for cash and … (8 comments)
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buying tips: Tips for Buying a Short Sale - 03/21/11 09:18 PM
Short sales aren't for every buyer. If you have a great deal of patience and don't have a short timeline for moving, a short sale may be a good way to find a great deal on a home.
Here are a few tips if you decide to consider a short sale:
Understand the Short Sale Process Research Market Value (your Realtor can help with this) Make an Offer somewhat below Market Value, but Not Ridiculously Low Don't Expect Concessions or Repairs Ensure that the Listing Realtor has Expertise with Short Sales Expect Approval to Take 3-6 Mos., but be Ready if it Comes Sooner … (2 comments)
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buying tips: Confused about Short Sales? - 02/23/11 09:55 PM
Even though the housing market is flooded with short sales - they're about 20% of the Tallahassee inventory - I continue to bump into people who don't understand the meaning of a short sale.
A short sale is one that doesn't generate enough money to completely pay off the mortgage(s) and liens against the property and is therefore "short" of the amount needed to clear the seller's debts. Because there can be a considerable amount of money still owed to one or more lenders after the sale, the lender(s) may ask the seller to sign a promissory note to pay the … (3 comments)
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buying tips: Common Misconceptions Among Buyers - 04/06/10 06:40 AM
Misconception: If you pay list price, you're paying too much.
If you don't know what the current market value is for homes in the area and whether the market is appreciating or depreciating, you don't know what a fair price is and you're likely to miss out on a great deal by trying to low ball a house that's already priced well.
If the house meets your goals, is within your budget, and is priced competitively, it's a bargain and you should make a strong offer. Get assistance from a professional to help you recognize a good deal and grab it … (84 comments)
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Colleen McConnell, Tallahassee Realtor
Tallahassee,
FL
More about me…
Advanced Realty Group
Address: 2344 Centerville Road, suite 105, Tallahassee, Fl, 32308
Office Phone: (850) 894-3944
Cell Phone: (850) 445-4673
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